Two Textile Firms Effect Wide Merger

February 1, 1929

The merger of two large textile concerns having a combined capital estimated to be $35,000,000 and a yearly business of between $100,000,000 and $200,000,000 has been effected by the Commercial Investment Trust Corporation of 1 Park Avenue, Henry Ittelson, president of the corporation, announced.

Peierls, Buhler & Co., Inc., which was recently acquired by the Investment Corporation, will be merged with Frederick Vietor & Achelis, Inc., according to a contract which has just been signed, Mr. Ittelson stated. The object of the merger, which is expected to exert widespread influence on the textile industry, is to bring both firms more nearly in fine with present-day competition. Robert G. Blumenthal, now head of Peierls, Buhler & Co., Inc., will be president of the new company.